TaxTMI 
TaxTMI 
1993 (8) TMI 25
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....year 1982-83 on the basis whereof a sum of Rs. 1,34,97,379 was payable by way of advance tax. The respondent paid advance tax of Rs. 21,99,126, Rs. 5,56,615 and Rs. 5,00,000 on June 12, 1981, July 23, 1981, and November 19, 1981, respectively, by three instalments for the said assessment year 1982-83. As the income of the respondent was expected to be less, it filed on December 14, 1981, Form No. 29 estimating its income subject to advance tax and advance tax payable thereon estimated at Rs. 1,06,19,318. The respondent paid Rs. 31,66,807 and Rs. 6,56,998 on December 14, 1981, and March 31, 1982, respectively, by way of advance tax. The respondent thus, in total, paid Rs. 70,79,546 by way of advance tax for the said assessment year. The res....
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....under section 143(3) of the Act and computed the total income at Rs. 97,60,310 as against the returned income of Rs. 86,94,100. By the said order, the Assessing Officer computed a sum of Rs. 16,43,171 as refundable. As the sum of Rs. 21,32,494 was refunded to the respondent, the Assessing Officer computed a sum of Rs. 4,89,323 as payable by the respondent. The respondent preferred an appeal against the said assessment order. By an order dated September 20, 1985, the Tribunal dismissed the appeal preferred by the Revenue against the order of the Commissioner of Income-tax (Appeals) allowing the claim of the respondent against the order under section 154 of the Act. The Commissioner of Income-tax (Appeals) passed an order on September 30, 1....
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....on on April 9, 1986, under section 264 of the Act before the Commissioner of Income-tax requesting him to issue necessary directions upon the Assessing Officer to pay full interest to the respondent as per section 214 of the Act as interpreted by this court in the case of Chloride India Ltd. [1977] 106 ITR 38 as also interest under section 244 of the Act. While the revision application under section 264 of the Act was pending, by a letter dated June 18, 1987, the respondent also requested the Income-tax Officer being respondent No. 2 to give the petitioner interest under section 244 of the Act, but no reply has been received by the respondent and no interest has been paid as requested by the respondent by the said letter. By an order date....
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.... assessment" has been interpreted by this court in Chloride India Ltd. [1977] 106 ITR 38. He has, however, submitted that the Division Bench decision of this court in CIT v. Chloride India Ltd. [1990] 186 ITR 217, has not been accepted by the Department and that some other High Courts have taken a contrary view. We are, however, bound by the Division Bench decision of this court on the identical issue. The Division Bench in Chloride India Ltd. [1990] 186 ITR 217 (Cal) has held that interest is payable by the Government under section 214 of the Act on the amount of advance tax paid by an assessee during the financial year, if it exceeds the taxes due and payable on regular assessment. The word "regular assessment" will include within its pu....